"More productive workers receive higher wages than less productive workers." This observation is a major flaw in which of the following arguments for protectionism?
A. the infant industry argument
B. the national security argument
C. the employment argument
D. the cheap foreign labor argument
Answer: D
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Regulators often adopt policies that benefit
A) consumers and injure producers. B) the firms regulated rather than consumers. C) only the government. D) no one.
The tax cuts of 2001 and 2003 that came in the form of tax rebate checks are good examples of ________ fiscal policy
A. universally discredited B. non-discretionary C. discretionary D. non-conjunctive
The ________ of R dollars to be paid in t years is the amount you have to put aside now if you want to ensure that you end up with R dollars t years from now.
A. present discounted value B. investment value C. future discounted value D. present actual value
If the slopes of the production possibility frontiers involving sugar and rice in countries A and B are equal
A. each country will produce identical quantities of sugar and rice. B. the opportunity cost of producing sugar is less in Country A. C. specialization does not benefit either country. D. the opportunity cost of producing rice is less in Country B.